By Kiku Steinfeld
Chicago, Dec. 8 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due July 6, 2023 linked to the Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.1%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting June 30 and on any subsequent quarterly review date if each fund closes at or above initial level.
At maturity the payout will be par unless the worst performing ETF closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETFs: | Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund
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| Amount: | $500,000
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| Maturity: | July 6, 2023
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| Coupon: | 11.1%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par starting June 30 and on any subsequent quarterly review date if each fund closes at or above initial level
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| Initial levels: | $76.44 for Energy, $38.32 for Financial
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| Trigger levels: | $53.508 for Energy, $26.824 for Financial, 70% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
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| Cusip: | 48133DT26
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